欧元区3月通胀进一步放缓，欧洲央行面临降息抉择

Eurozone inflation slowed further in March, and the European Central Bank faced the choice of cutting interest rates

【环球网财经综合报道】当地时间周二，欧盟统计局数据显示，欧元区3月通胀继续放缓，逼近欧洲央行设定的2%目标水平。

On Tuesday, Eurostat data showed that inflation in the eurozone continued to slow in March, approaching the 2% target set by the European Central Bank.

数据显示，欧元区3月调和消费者物价指数（CPI）同比初值为2.2%，符合预期，但低于前值的2.3%。同时，核心调和CPI同比初值也下降至2.4%，低于预期的2.5%和前值的2.6%。此外，3月调和CPI环比初值保持在0.6%，符合预期，高于前值的0.4%。另值得一提的是，欧元区2月失业率也下降至6.1%，低于预期的6.2%和前值的6.2%。

The data showed that the eurozone's March Harmonized Index of Consumer Prices (HICP) was 2.2% year-on-year, in line with expectations, but lower than the previous value of 2.3%. At the same time, the core HCPI also fell to 2.4% year-on-year, lower than the expected 2.5% and 2.6% of the previous value. In addition, the March reconciliation CPI month-on-month initial value remained at 0.6%, in line with expectations, higher than the previous value of 0.4%. It is also worth mentioning that the euro zone unemployment rate also fell to 6.1% in February, lower than the expected 6.2% and the previous value of 6.2%.

服务业通胀作为政策制定者特别关注的领域，3月数据从3.7%降至3.4%，延续了自2月份开始的明显回落趋势。与此同时，潜在价格压力也略微放缓至2.4%，低于预期水平。

Inflation in services, an area of particular concern to policymakers, fell to 3.4 per cent in March from 3.7 per cent, continuing a sharp downward trend that began in February. At the same time, underlying price pressures also eased slightly to 2.4%, lower than expected.

欧洲央行最新的季度预测显示，到2026年初，通胀将可持续回归其目标水平。然而，在两周多一点的时间内，欧洲央行必须决定是否自去年6月以来第七次降低借款成本。

The ECB's latest quarterly forecasts suggest that inflation will continue to return to its target level by early 2026. However, in a little more than two weeks, the ECB must decide whether to cut borrowing costs for the seventh time since June last year.

据彭博社报道，一些政策制定者对于是否再次降息犹豫不决，这导致市场已经下调了对今年进一步宽松程度的押注。目前，投资者预计4月17日再次降息的可能性为70%，低于之前的85%。

Some policymakers are hesitant to cut rates again, leading the market has trimmed its wagers on further easing this year, Bloomberg reported. At present, investors expect a 70% chance of another rate cut on April 17, down from 85% previously.